The NAI Alliance Industrial Properties Group has released its Q3 Industrial Market Report.
Overview:
Our
market maintained steady activity during the third quarter. Large deals missing
in the first and second quarters reemerged in the third quarter. In
addition, three new speculative buildings were completed. On a negative note,
two large subleases were added to the market.
The quarter began with a vacancy of 8.7% and ended slightly less at 8.4%
so the new activity outweighed the new construction added to
the market. Vacancy changes dramatically
when one factors in the sublease space. The second largest building in our
market, Kmart’s former distribution facility of 1,557,709sf is now available
for sublease. When counting sublease space, overall market
vacancy is 11.2%. In summary, market activity continues to be strong. General sentiment amongst brokers and
developers remains highly positive and we anticipate a strong finish to the
year.
To continue reading, click her for the Q3 Industrial Market Report.
